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2022 (8) TMI 765 - AT - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - Operational Creditors - existence of debt and dispute or not - HELD THAT:- The parties are in multiple litigation and hence the Operational creditor in order to bring pressure on the CD has adopted the provisions of the Code to get disputed payment realized from the CD. The provisions of the Code cannot be used for chasing of payment and moreover where there is a business dispute. The Hon’ble Supreme Court has already settled the matter that the provision of the Code is not intended to be a substitute to be a recovery forum. There is a dispute between the parties in relation to either issue of Form-C or in the issue of dues payable. The Code is very much clear and settled that Section 9 of the Code can be invoked only if there is no notice of dispute has been received by the Operational Creditor as per Section 9(5)(d) of the Code. Appeal dismissed.
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